Rather than raising the fare, the MTA could solve all its financial woes by lowering it.
If the bus and subway fare was cut from $2 to $1.50, and the weekly and monthly discounts were eliminated, the MTA would actually see a $323 million, or 16 percent, boost in revenue – more money than it needs, say advocates of the plan. And as a result, nearly three-quarters of all riders would pay less than they do now.
Introduced in 1998, the steep MetroCard discounts, which have lowered the average fare riders pay to $1.29, have been a victim of their own success, MTA Board member Barry Feinstein said.
“Everyone wants a bargain, but these discounts have come at too high a price,” he said.
MTA officials have said they do not like the idea because it may hurt ridership.
“We’re afraid that eliminating the discounts will significantly discourage ridership,” MTA spokesman Jeremy Soffin said.
The fare-hike proposal currently being considered by the MTA would raise the base fare 12.5 percent to $2.25, and the seven-day and 30-day MetroCards somewhere between 4 and 8 percent.